Avita Medical (NASDAQ:RCEL) Director Buys $40,900.00 in Stock

Avita Medical Inc. (NASDAQ:RCEL) Director Joseph Fralin Woody bought 10,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $4.09 per share, for a total transaction of $40,900.00. Following the acquisition, the director directly owned 92,761 shares in the company, valued at $379,392.49. This trade represents a 12.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Joseph Fralin Woody also recently made the following trade(s):

• On Monday, June 1st, Joseph Fralin Woody purchased 10,000 shares of Avita Medical stock. The stock was purchased at an average cost of $4.30 per share, with a total value of $43,000.00.

Avita Medical Stock Performance

Shares of NASDAQ RCEL opened at $4.18 on Monday. The stock has a market cap of $128.65 million, a price-to-earnings ratio of -2.66 and a beta of 1.87. The business has a 50 day simple moving average of $4.36 and a 200 day simple moving average of $4.12. Avita Medical Inc. has a 52 week low of $3.22 and a 52 week high of $7.12.

Avita Medical (NASDAQ:RCEL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) EPS for the quarter, meeting the consensus estimate of ($0.35). The firm had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.30 million. On average, analysts predict that Avita Medical Inc. will post -1.29 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen cut Avita Medical from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Northland Securities assumed coverage on Avita Medical in a research note on Thursday, March 5th. They issued an “outperform” rating and a $10.00 price target for the company. D. Boral Capital reissued a “buy” rating and issued a $10.00 price target on shares of Avita Medical in a research note on Wednesday, April 8th. Lake Street Capital raised Avita Medical from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.50 to $6.00 in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.25.

Institutional Investors Weigh In On Avita Medical

A number of large investors have recently added to or reduced their stakes in RCEL. Geode Capital Management LLC boosted its position in Avita Medical by 44.6% during the fourth quarter. Geode Capital Management LLC now owns 479,185 shares of the company’s stock worth $1,654,000 after purchasing an additional 147,722 shares during the period. Divisadero Street Capital Management LP bought a new stake in Avita Medical during the third quarter worth approximately $511,000. AQR Capital Management LLC bought a new stake in Avita Medical during the first quarter worth approximately $799,000. NewEdge Advisors LLC boosted its position in Avita Medical by 8,588.5% during the first quarter. NewEdge Advisors LLC now owns 86,885 shares of the company’s stock worth $321,000 after purchasing an additional 85,885 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in Avita Medical by 213.8% during the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock worth $603,000 after purchasing an additional 80,404 shares during the period. Institutional investors own 27.66% of the company’s stock.

Avita Medical Company Profile

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell?based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor?site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.